OIEIX vs. DGRO

Last updated Jun 4, 2026

OIEIX (JPMorgan Equity Income Fund Class A) and DGRO (iShares Core Dividend Growth ETF) are both funds - OIEIX is a Dividend fund managed by JPMorgan, while DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. Over the past 10 years, OIEIX returned 11.80%/yr vs 13.34%/yr for DGRO. With a 0.96 correlation, they move nearly in lockstep. OIEIX charges 0.95%/yr vs 0.08%/yr for DGRO.

Performance

OIEIX vs. DGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Income Fund Class A (OIEIX) and iShares Core Dividend Growth ETF (DGRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OIEIX achieves a 10.16% return, which is significantly higher than DGRO's 9.64% return. Over the past 10 years, OIEIX has underperformed DGRO with an annualized return of 11.80%, while DGRO has yielded a comparatively higher 13.34% annualized return.

OIEIX

• 1D: 1.03%
• 1M: 2.89%
• YTD: 10.16%
• 6M: 10.91%
• 1Y: 22.48%
• 3Y*: 17.72%
• 5Y*: 10.41%
• 10Y*: 11.80%

DGRO

• 1D: 0.81%
• 1M: 3.27%
• YTD: 9.64%
• 6M: 9.87%
• 1Y: 23.89%
• 3Y*: 17.46%
• 5Y*: 10.72%
• 10Y*: 13.34%

*Multi-year figures are annualized to reflect compound growth (CAGR)

OIEIX vs. DGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OIEIX JPMorgan Equity Income Fund Class A	10.16%	14.42%	19.54%	4.49%	-2.11%	24.80%	3.30%	26.07%	-4.76%	17.21%
DGRO iShares Core Dividend Growth ETF	9.64%	15.69%	16.62%	10.47%	-7.91%	26.64%	9.50%	29.87%	-2.38%	23.00%

Correlation

The correlation between OIEIX and DGRO is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jun 13, 2014	0.96

The correlation between OIEIX and DGRO has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

OIEIX vs. DGRO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OIEIX

OIEIX Risk / Return Rank: 61
OIEIX Sharpe Ratio Rank: 59
OIEIX Sortino Ratio Rank: 58
OIEIX Omega Ratio Rank: 54
OIEIX Calmar Ratio Rank: 70
OIEIX Martin Ratio Rank: 64

DGRO

DGRO Risk / Return Rank: 78
DGRO Sharpe Ratio Rank: 79
DGRO Sortino Ratio Rank: 83
DGRO Omega Ratio Rank: 78
DGRO Calmar Ratio Rank: 75
DGRO Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OIEIX vs. DGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Income Fund Class A (OIEIX) and iShares Core Dividend Growth ETF (DGRO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	OIEIX	DGRO	Difference
Sharpe ratio: Return per unit of total volatility	2.26	2.53	-0.27
Sortino ratio: Return per unit of downside risk	3.20	3.68	-0.47
Omega ratio: Gain probability vs. loss probability	1.41	1.46	-0.05
Calmar ratio: Return relative to maximum drawdown	3.25	3.71	-0.46
Martin ratio: Return relative to average drawdown	12.46	14.33	-1.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OIEIX vs. DGRO - Sharpe Ratio Comparison

The current OIEIX Sharpe Ratio is 2.26, which is comparable to the DGRO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of OIEIX and DGRO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OIEIX	DGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	2.53	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.78	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	0.81	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.77	-0.21

Drawdowns

OIEIX vs. DGRO - Drawdown Comparison

The maximum OIEIX drawdown since its inception was -50.63%, which is greater than DGRO's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for OIEIX and DGRO.

Drawdown Indicators

	OIEIX	DGRO	Difference
Max Drawdown Largest peak-to-trough decline	-50.63%	-35.10%	-15.53%
Max Drawdown (1Y) Largest decline over 1 year	-7.14%	-6.47%	-0.67%
Max Drawdown (3Y) Largest decline over 3 years	-14.23%	-14.03%	-0.20%
Max Drawdown (5Y) Largest decline over 5 years	-14.95%	-19.31%	+4.36%
Max Drawdown (10Y) Largest decline over 10 years	-36.92%	-35.10%	-1.82%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.64%	-3.44%	-3.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	1.67%	+0.19%

Volatility

OIEIX vs. DGRO - Volatility Comparison

JPMorgan Equity Income Fund Class A (OIEIX) has a higher volatility of 2.58% compared to iShares Core Dividend Growth ETF (DGRO) at 2.24%. This indicates that OIEIX's price experiences larger fluctuations and is considered to be riskier than DGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OIEIX	DGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.58%	2.24%	+0.34%
Volatility (6M) Calculated over the trailing 6-month period	7.80%	6.94%	+0.86%
Volatility (1Y) Calculated over the trailing 1-year period	10.29%	9.49%	+0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.29%	13.82%	+0.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.82%	16.62%	+0.20%

OIEIX vs. DGRO - Expense Ratio Comparison

OIEIX has a 0.95% expense ratio, which is higher than DGRO's 0.08% expense ratio.

Dividends

OIEIX vs. DGRO - Dividend Comparison

OIEIX's dividend yield for the trailing twelve months is around 9.82%, more than DGRO's 1.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRO iShares Core Dividend Growth ETF	1.94%	2.09%	2.26%	2.45%	2.34%	1.93%	2.30%	2.21%	2.44%	2.03%	2.27%	2.52%
OIEIX JPMorgan Equity Income Fund Class A	9.82%	10.83%	14.48%	2.59%	3.50%	3.17%	1.62%	2.60%	4.95%	2.29%	2.30%	2.52%

Frequently Asked Questions

Can I hold both OIEIX and DGRO in my portfolio?

With a correlation of 0.93, OIEIX and DGRO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, OIEIX or DGRO?

OIEIX has higher volatility (2.58%) compared to DGRO (2.24%). In terms of maximum drawdown, OIEIX dropped -50.63% vs DGRO's -35.10%.

Which has better risk-adjusted returns?

DGRO currently has the higher Sharpe Ratio (2.53 vs 2.26), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.